Humanitarian payment channel: Switzerland is moving ahead

The Swiss government is moving ahead with plans to unveil a humanitarian payment channel for Iran though complex negotiations with different parties in Iran, the US and Switzerland.

The channel, which is separate from EU’s Special Purpose Vehicle (renamed INSTEX), intends to stick to medical equipment, pharmaceuticals and food –goods the US says are not subject to its sanctions re-imposed after the mercurial and highly controversial President Donald Trump abandoned the Iran nuclear deal last May. In an exclusive interview with the Financial Tribune Swiss Ambassador to Iran Markus Leitner said “ good progress” has been made through multilateral talks but the channel is not operational yet